July 22, 2019 / 1:15 AM / 4 months ago

GRAINS-Corn retreats over 1% on cooler U.S. weather forecasts

SYDNEY, July 22 (Reuters) - U.S. corn futures fell over 1% on Monday as forecasts for an end to hot, sweltering weather eased fears about potential yield losses.


* The most active corn futures on the Chicago Board Of Trade were down 1.2% at $4.30-3/4 by 0100 GMT, having gained 1.4% in the previous session.

* The most active soybean futures were down 0.6% at $9.14 a bushel, having firmed 2.3% on Friday.

* The most active wheat futures were down 0.5% at $5.00-1/4 a bushel, having closed up 1.8% on Friday.

* The market is digesting the impact of hot weather across the United States.

* The hot and dry weather after a rain-soaked spring stokes concern that U.S. corn yields will be smaller than expected, though recent adverse weather expected to ease this week.


* The dollar held recent gains on Monday as investors tempered some of their expectations for deep U.S. interest rate cuts this month and heightened Middle East tensions supported safe-haven assets.

* Oil prices rose on Monday led by Brent crude, which gained more than 1 percent, amid high tensions in the Middle East after a British tanker was seized by the Iranian military at the end of last week. (Reporting by Colin Packham; Editing by Subhranshu Sahu)

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